Iran's foreign minister said on Friday that the Strait of Hormuz, which has been virtually closed since the start of the war, causing chaos in global oil markets, is now open for the remaining period of the ceasefire.
“In accordance with the ceasefire in Lebanon, passage for all commercial vessels through the Strait of Hormuz is declared fully open for the remaining period of the ceasefire, on the coordinated route as already announced by the Ports and Maritime Organization of the Islamic Republic of Iran,” Abbas Araghchi wrote in X.
US President Donald Trump just announced on Truth Social: "Iran has just announced that the Strait of Iran is fully open and ready for full passage. Thank you," CNN reports.
Oil prices fell more than 11% on the news. Meanwhile, Europe's major stock indexes all traded higher on the day and U.S. long-term futures also pointed to a stronger open.
This comes after the US imposed a naval blockade on Iranian ports in response to Iran's effective closure of this key waterway. The head of US Central Command (CENTCOM) said on Wednesday that the blockade was "fully implemented".
On Thursday, a Pakistani-flagged tanker exited the Gulf through the strait, according to Maritime Traffic data, in a rare voyage through the waterway amid the blockade.
The GeoPost
The United Kingdom is forming a new naval alliance in Europe 
Tenzer: Ukraine is winning the war, the West must help 
Germany is now the biggest military spender in Europe – what is it buying the most? 
Trump: We have two options on Iran, I would rather not blow it up 
Criminal Ratko Mladic in poor health, close to death 
The US could use a powerful weapon against Iran for the first time – what is “Dark Eagle”?